Millennials and Gen Z Forced Back Home: 52% of 18- to 29-year-olds live at Home with their Parents, the Highest Percentage Dating Back 120 Years.
Younger Americans face a daunting jobs market. Covid-19 has crushed the employment market especially with entry level positions and internships which are typically used as platforms into full-time career opportunities. The Class of 2020 has graduated into the worst economy in modern history. While some sectors in the economy are hiring, these jobs are a small portion of the overall economy that needs to provide opportunities to millions of recent graduates and those without college degrees. So it comes as no surprise that a record number of young Americans are now living at home. In fact, in 120 years of record keeping, we are now at the highest percentage on record – 52% of those 18- to 29-years-old are now living with their parents. That is a stunning number and has implications for the next decade of our economic growth.
Read MoreThe Existential Crisis for Colleges: $1.64 Trillion in Student Debt and a Pandemic.
The fall season for those with teenagers exploring college options can be one filled with anxiety and uncertainty in more stable times. This is anything but a stable time. We have college tuition spiraling out of control for well over two decades while a pandemic forced students to learn online away from carefully manicured campuses. How do you decide on which college to attend if you are unable to visit the campus, explore the classes, or experience what has been so painstakingly packaged to embody the college going years? That is the question millions of families are grappling with in the middle of all the other questions the novel coronavirus has tossed at us. Colleges are having to face an existential challenge in what they truly believe in – do they want to educate our future or serve only as a finishing school for the affluent in our society?
Read MoreWhat Is The Average Net Worth Of American Households?
A new survey shows that there are 11.8 million households with net assets of more than $1 million, according to the US Bureau of Labor Statistics (BLS).Â
Read MoreMillennials And Home Buying In The United States
Housing markets across the country are at the top of the list, with the opportunity for potential home buyers to get their foot in the door. [Sources: 1]
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